Moortown property update – June 2016

Our research has revealed that Moortown homeowners selling their property with us over the past 12 months achieved on average 105% of their asking price.

To put that into context, this means that homes placed on the market for £250,000 typically sold through our interlinked Roundhay and Chapel Allerton branches for £262,500,

What’s more, the average time on the market, from instruction to sale agreed, was just 78 days.

Property prices in Moortown have increased by an average of 9% over the past 12 months as this sought-after suburb’s appeal as a place to live and work continues to gather momentum.*

This is underlined by the fact that there are approaching 2,000 active buyers registered across both our branches who are looking to move in the area.

Our analysis of a range of independent data from Rightmove also explored the health of the wider property market. It found that the majority of all house sales in Moortownduring the last year were semi-detached properties, selling for an average price of £241,794. Flats sold for an average of £160,760, with detached properties fetching £348,594.*

Moortown, with an overall average price of £225,224 was more expensive than nearby Chapel Allerton (£201,392), but was cheaper than Alwoodley (£254,451) and Roundhay (£265,691).*

It remains one of the fastest-growing places to live in Leeds, retaining a strong community with a friendly – and increasingly trendy – village feel that appeals to our buyers. They tell us that it is one of the key reasons they are attracted to the area.

Moortown lies in the heart of the Leeds 17 postcode area, which was reported to contain the most expensive housing area in Yorkshire and the Humber by The Times – and leads into the sought-after residential properties of Alwoodley and Wigton Lane.

It is a popular residential area of North Leeds with a growing array of amenities to shop, eat, drink – and be entertained.

To name a few, there is the Marks & Spencer food outlet; the renowned cafe Filmore & Union; and the ever-popular Kosherie, Myers. There are plenty more eateries and entertainment close by in the vibrant areas of Chapel Allerton and Roundhay.

Moortown Golf Club famously hosted the 1929 Ryder Cup. Moor Allerton Sports and Social Centre has bowls, tennis and indoor activities. There is also a Rugby Union club.

Surrounded by parkland, Roundhay Park with Tropical World is only a short distance away. There are excellent links to Leeds city centre, St James’s Hospital and the cities and towns north of Leeds such as Harrogate, Wetherby and York.

There is a wide range of property types, including some lovely detached and semi-detached houses alongside some modern apartments.

We know from our North Leeds expertise that this area is hugely popular with professionals who want a little touch of luxury but still have some affordable accommodation.

Not surprisingly, population research we have carried out shows that this demand for homes in this area is likely to increase in the future.

The population within a two-mile radius of our office on Street Lane currently stands at 88,537. An increasing number is aged under 15 – highlighting the demand we see among buyers for good-sized family homes.

Within this population, well over half are economically active ensuring high degrees of spending power. Around two-thirds of all properties are owner-occupied.

By 2018, this area’s population is expected to have risen by almost 6%.

The most typical buyer attracted to this area is a thriving family who is busy bringing up children and following careers, followed by residents of settled urban communities with a strong sense of identity and love of technology.

The prediction is for this district to gradually become more “upmarket” over the next decade.

Being in Moortown is definitely like living in the country but only a 15 minute drive to the hustle and bustle of Leeds City Centre. We would recommend it for everyone!

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